Barclays downgrades Lam Research, says comeback in chip stocks is a 'head fake'

The recent bounce in semiconductor names is likely only a "head fake," Barclays says. Analyst Blayne Curtis downgraded shares of Lam Research to equal weight as part of a broader dire outlook on the semi space, saying that the maker of chip equipment is among a slew of names due for a "substantial reset" following a double-digit rally in recent weeks.

"The company sees this as reason to remain confident that numbers are moving higher, but we see this as a burden as utilization will have to drop that much more when the eventual cuts come." Along with the downgrade, Barclays trimmed estimates on the semiconductor stock, which has plummeted more than 35% this year and cut the bank's price target to $450 a share. The fresh target implies a 3% downside for the stock in the near term.

Waiting for one more auto post about the climate. NatGeo you and WhiteHouse are pretty close. Why not have a meeting online / off about the climate ? Easy steps and less energy needed due too shouting. So VP and JoeBiden id start here. ( pre planning for ur post )

I wonder what Paul Pelosi thinks about it? 🤔🤔🤔

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Fund manager says another tech crash is looming, and names the stocks to buy insteadDeuterium Capital is steering clear of tech stocks and rotating into sectors such as healthcare and telecommunications instead. the bold get richer on pure speculation, so it has always been. Clickbait Translation : we are trying to short these stocks and want to set up retail to take advantage of them by manipulating others
Source: CNBC - 🏆 12. / 72 Read more »